Q4 25 EPS
$2.86
BEAT +1.42%
Est. $2.82
Q4 25 Revenue
$5.14B
BEAT +0.53%
Est. $5.12B
vs S&P Since Q4 25
+13.6%
BEATING MARKET
TT +17.4% vs S&P +3.8%
Full Year 2025 Results
FY 25 EPS
$13.06
BEAT +0.21%
Est. $13.03
FY 25 Revenue
$21.32B
BEAT +0.13%
Est. $21.29B
Market Reaction
Did TT Beat Earnings? Q4 2025 Results
Trane Technologies closed out Q4 2025 with a clean beat on both top and bottom lines, posting adjusted EPS of $2.86 against a consensus estimate of $2.82, a 1.42% beat, while revenue of $5.14 billion edged past the $5.12 billion estimate and grew 5.5… Read more Trane Technologies closed out Q4 2025 with a clean beat on both top and bottom lines, posting adjusted EPS of $2.86 against a consensus estimate of $2.82, a 1.42% beat, while revenue of $5.14 billion edged past the $5.12 billion estimate and grew 5.5% year over year. The driving force behind the quarter was unmistakable: Americas Commercial HVAC delivered organic bookings growth exceeding 35%, with applied equipment bookings surging more than 120% and an applied book-to-bill ratio reaching 200%, helping lift the company's enterprise backlog to a record $7.80 billion, up 15% from year-end 2024. That backlog depth provides unusually strong revenue visibility heading into 2026, a meaningful comfort for investors in an environment where earnings beats alone don't always translate to sustained confidence. Management guided full-year 2026 reported revenue growth of approximately 8.5% to 9.5% and adjusted EPS of $14.65 to $14.85, signaling continued momentum even as residential HVAC and transport refrigeration markets remain under pressure.
Key Takeaways
- • Americas Commercial HVAC bookings up more than 35%, with applied equipment bookings up more than 120%
- • Record enterprise backlog of $7.8 billion, up 15% versus year-end 2024
- • Strong volume, positive price realization and productivity more than offset inflation
- • Book-to-bill of 112%, global Commercial HVAC book-to-bill of 114%
- • Applied book-to-bill of 200% in Americas
TT YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
TT Revenue by Segment
With YoY comparisons, source: SEC Filings
TT Revenue by Geography
With YoY comparisons, source: SEC Filings
“Thanks to our purpose-driven strategy, talented team and disciplined execution, 2025 was another strong year for our company. We achieved strong revenue growth, adjusted earnings per share growth and free cash flow conversion, despite challenging markets in residential and transport refrigeration.”
— Dave Regnery, Q4 2025 Earnings Press Release
TT Earnings Trends
TT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TT EPS Trend
Earnings per share: estimate vs actual
TT Revenue Trend
Quarterly revenue: estimate vs actual
TT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.63 | — | $4.97B | +3.38% |
| Q4 25 BEAT FY | $2.82 | $2.86 | +1.42% | $5.14B | +0.53% |
| FY Full Year | $13.03 | $13.06 | +0.21% | $21.32B | +0.13% |
| Q3 25 BEAT | $3.78 | $3.88 | +2.69% | $5.74B | -0.67% |
| Q2 25 BEAT | $3.79 | $3.88 | +2.29% | $5.75B | -0.48% |
| Q1 25 BEAT | $2.20 | $2.45 | +11.41% | $4.69B | +5.04% |